TORM plc (TRMD) To Go Ex-Dividend on March 20th

TORM plc (NASDAQ:TRMD) announced a quarterly dividend on Thursday, March 6th, Wall Street Journal reports. Stockholders of record on Thursday, March 20th will be paid a dividend of 0.60 per share on Wednesday, April 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 12.50%. The ex-dividend date of this dividend is Thursday, March 20th.

TORM has a payout ratio of 77.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect TORM to earn $3.58 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 67.0%.

TORM Price Performance

Shares of NASDAQ TRMD opened at $19.20 on Tuesday. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 2.48 and a beta of 0.14. TORM has a 12 month low of $16.76 and a 12 month high of $40.47. The firm’s 50 day simple moving average is $19.58 and its 200-day simple moving average is $24.09. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24.

TORM Company Profile

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.